Brazil consumer defaults spike 4.8 pct in May -Serasa

SAO PAULO, June 15 (Reuters) - An index measuring consumer
defaults in Brazil rose 4.8 percent in May from April, mostly
due to rising interest rates, higher inflation and mounting
unemployment, credit research company Serasa Experian said on
Monday.

It was the sharpest monthly rise registered so far this
year, Serasa said.

The average size of non-bank debts rose 4.9 percent in the
month, while bank debts rose 5.5 percent.

Brazilians have been less willing to take on new debts as
the economy slows, which has also made it harder to pay off
existing loans. Consumer confidence is hovering at its lowest
since the 2008 global financial crisis and Brazil's economy is
expected to mark a recession this year as the government works
to tighten spending.
(Reporting by Asher Levine; Editing by Chizu Nomiyama)